The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Tata Large & Midcap Fund & Others
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Tata Large & Midcap Fund, along with PACs Tata Small Cap Fund, Tata India Equity Fund, and Tata Multipartner SICAV, has acquired 14,46,500 shares (6.94%) of Network People Services Technologies Ltd through a preferential allotment in the primary market. This takes the combined holding of the acquirer and PACs from 5,30,000 shares (2.54%) to 19,76,500 shares (9.49%) of the company. The acquirers are not part of the promoter or promoter group. The disclosure is filed under SEBI SAST Regulation 29(1) ahead of crossing reporting thresholds.
This is a significant institutional vote of confidence from Tata's mutual fund schemes, which are now just below the 10% FII disclosure threshold. The preferential allotment will dilute existing shareholders but brings in reputed institutional capital, which could be viewed positively by the market for credibility and long-term support.